The US dollar hits its highest level in more than a month

The US dollar rose against major currencies today, to its highest level in more than a month, amid concerns about the Chinese economy. The main dollar index, which measures the performance of the US currency against 6 major currencies, rose 0.28% to 103.133, after hitting its highest level since July 7.

Benchmark 10-year US Treasury yields rose to their highest level in nine months, and the benchmark 10-year yield reached 4.215%, the highest since November 8, before falling to 4.186%.

The data showed new Chinese bank loans tumbled in July even as policymakers cut interest rates as investors feared that troubles at the country's largest private property developer Country Garden (2007.HK) could have a chilling effect on homebuyers and financial institutions.

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